Actual Estate Finance

Based mostly in San Antonio, Texas, our mortgage lending officers have various backgrounds, personalities, concepts and interests. Notable transactions embody a $40 million mezzanine mortgage for the refinancing of the Hyatt Regency in New Orleans, a $forty five million mezzanine mortgage for Minskoff Equities’ 1166 Avenue of the Americas and, most not too long ago, a $145 million development mortgage for The Bohannon Corporations’ Class A workplace constructing in Menlo Park, Calif.

As a enterprise, we centered on serving our buyers on quality actual estate projects by way of the nation,” Steve Kenny said, noting that Bank of America’s lending exercise was diversified in 2016 with roughly 50 percent of exercise within the term loan house, 25 {38bb49e6e8e176ebfcf49955aed862f586c630dd17a4665f31a7934b13923995} in development and the remaining 25 {38bb49e6e8e176ebfcf49955aed862f586c630dd17a4665f31a7934b13923995} consisting of corporate traces and other sorts of credit score services.

As a part of the most important absolutely built-in network of regulation offices and regulation partners of any world legislation agency, we draw usually upon the comprehensive sources of the firm to deal with the complete scope of associated regulatory, legal, and other points that come up in complex actual property finance transactions across industries and jurisdictions.

Of the bank’s more distinguished offers last year was a $229 million, five-yr, mounted-price loan for RFR Holding and Tristar Capital’s purchase of City Union, a 12-story, 296,000-square-foot Class A office constructing in Seattle that can house places of work for Amazon.

His real estate capital markets workforce was the highest CMBS lender by loan count for the fifth 12 months in a row and lent $10 billion in nonrecourse loans, of which $4 billion were securitized and $6 billion have been held on Wells Fargo’s stability sheet.